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Kenya Airways honored for best financial disclosure

(Forimmediaterelease.net) NAIROBI, Kenya - The national flag carrier and “Pride of Africa,” Kenya Airways, has received global recognition for its financial disclosure, winning the coveted 2010 “World Finance Award” from World Finance Magazine.

The award for “Best Financial Disclosure in Africa” was given to the airline in recognition of the procedure and detail that Kenya Airways takes into consideration in preparing financial performance information for shareholders and investors.

While accepting the award, Kenya Airways Group Finance Director Alex Mbugua explained that as a cross-listed company on the Nairobi Stock Exchange, Uganda Securities Exchange, and the Dar es Salaam Stock Exchange, it is important to disclose as much information as possible about the company to give investors an elaborate picture.

It is the first time that the airline has received the award, which Mbugua noted was a global acceptance of the high financial reporting standards in Africa.

Speaking during an interview with World Finance at the London Stock Exchange, Mbugua added that, “Kenya Airways is one of the largest airlines in Africa. With a billion dollar annual turnover and a complex mix of shareholders, including private individuals, the airline KLM, and the Kenyan government, good communication is vital.”

He noted that it was important for shareholders to keep well informed about the business of the airline and its performance so that they could trust their funds were well taken care of and that the value of their equity investments was rising. Mbugua stressed, “What is particularly gratifying about this award is that it covers all industries, and not just aviation, across the entire continent.”

The “World Finance Awards” are a part of the World Finance Magazine, a leading financial magazine published every two months by World News Media, headquartered in London. The awards are presented following a detailed evaluation that the magazine conducts among various banks and other financial institutions across the globe. The criteria for selecting winners include business numbers, customer service, back-office capabilities and delivery systems among others.

ABOUT KENYA AIRWAYS

Kenya Airways (KQ), “The Pride of Africa,” operates the largest and most modern fleet in Africa and is the state and flag carrier for the Republic of Kenya. It currently consists of 29 aircraft and operates scheduled service to 50 destinations in Africa, Europe, Middle East, and Far East. The in-flight service is renowned featuring flat-bed Business Class cabin seats on the wide-bodied aircraft (Boeing 777-200ER). Kenya Airways is consistently voted among the top ten airlines in the world and recently scooped top awards at the Africa Investor (Ai) Tourism Investor Awards and was declared the “Business Airline of the Year.” In order to meet the airline’s primary goal to be the “carrier of choice to Africa,” Kenya Airways has established strategic alliances with SkyTeam partners and interline agreements with Virgin Atlantic Airways, American Airlines, and Air Canada. These relationships ensure seamless and convenient connections from all over North America to Nairobi, Kenya and points beyond throughout

KENYA AIRWAYS EQUIPMENT:

The Kenya Airways fleet is composed of four Boeing 777-200ERs, six Boeing 767-300ERs, five Boeing 737-800s, four Boeing 737-700s, five Boeing 737-300s, and five Embraer E17LRs…29 aircraft in total.

KENYA AIRWAYS ROUTE OVERVIEW:

Kenya Airways is based in Nairobi, Kenya, and operates scheduled
service to: